MOGO - Mogo Finance Technology reports Q3 results; updates FY22 revenue guidance

• Mogo press release ( NASDAQ: MOGO ): Q3 adjusted EBITDA loss of -C$2.8M, a 32% decrease compared to Adjusted EBITDA loss of -C$4.1M in Q2 2022 and a 19% decrease from Q3 2021.
• Net cash flow from operations before investment in receivables improved 47% to -C$1.2M, compared with -C$2.3M in Q3 2021 and -C$7.2M in Q1 2022.
• Adjusted net loss improved to -C$8.4M, down from -C$9.5M both in Q2 2022 and Q3 2021.
• Revenue of C$17.3M (+12.3% Y/Y).
• Mogo previously provided revenue guidance for 2022 of C$69 to C$72 million. In light of the restructuring, the Company expects total revenues of C$68 to C$69 million for 2022.

• Includes cash and cash and cash equivalents of C$35.3 million, investment portfolio of C$13.8 million, and digital assets of C$0.7 million along with a book value of investment in Coinsquare of C$56.1 million as at September 30, 2022.

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